UK: Funding for Housing is investing GBP500 million (US$631.22 million) to build new social housing stock in a Shariah compliant manner, according to a press release. The projects will receive long-term inflation-linked rental incomes that are centrally funded by the UK government. The investment has a 20-year maturity.
The current pipeline consists of seven projects with 1,705 units amounting to an initial portfolio of GBP488.5 million (US$616.7 million).